Section 13
SEC. 13. Section 83 of the same Act is hereby amended to read as follows: "Sec. 83. Revaluation profits and losses on banks' holdings of gold and foreign exchange.— Consistent with monetary policy and international agreements, the Monetary Board may at any time declare what revaluation profits realized or losses suffered by the banks on their net assets or liabilities in gold or freely convertible foreign currencies as a result of changes in the par value of the peso, in the legal parities between the Philippine peso and such foreign currencies or in the Central Bank's exchange rates for such currencies or as a result of ether causes shall be for the account of the Central Bank until such time as the Bank gives notice to the contrary. Said notice shall be communicated to the banks at least eight days before the date on which the revaluation risks cease to be for the account of the Central Bank, and shall apply only to acquisitions of the specified foreign currency subsequent to said date. The Board shall issue appropriate regulations to restrain the banks from increasing their holdings of the specified currency during the period from the date of the notice to the date on which it becomes effective." "This Monetary Beard shall issue rules and regulations as may be necessary to administer the provisions of this section."